Sensex closes higher; banks, IT, auto lead, metals dip
18 Jan 2010
Buying in banking & financial, technology, auto and capital goods supported the benchmark Sensex to close the first session of the week on a positive note amid choppy trade. Heavyweight Bharti Airtel was the gainer too. Positive European cues were also quite supportive; CAC, DAX and FTSE gained 0.5% each, at the time of closing of Indian equities.
However, selling in metal, cement, pharma and select telecom companies' shares along with big boy Reliance Industries, ITC and NTPC limited the gains to major extent.
The 30-share BSE Sensex closed at 17,641.08, up 86.78 points or 0.49% and the 50-share NSE Nifty went up 22.65 points or 0.43%, to settle at 5,274.85.
Nearly all public sector companies as well as divestment candidates witnessed huge buying interest and were also in the most active list of stocks, post disinvestment secretary's comments. The disinvestment secretary Sunil Mitra said in an interview to CNBC-TV18 that the government was likely to mop up more than Rs 24,000 crore in fiscal 2010. The government plans to list 60 unlisted public sector units, and may even ask for dividend before divesting cash rich companies, he added.
NMDC, Engineers India, STC India, Hindustan Copper, Dredging Corporation and SBI were the most active shares on the bourses.
HDFC Bank was the top gainer on the Nifty, which might reacted to the comments of Executive Director of the bank post results. The bank reported a 31.51% jump in its third quarter net profit of Rs 818 crore as against Rs 622 crore in the same quarter of previous year.
